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Dominion closes on final phase of solar sale to SunEdison

Staff writer |
Dominion has closed on the second and final phase of its previously announced sale of a 33 percent ownership interest in 425 megawatts (AC) of solar generating capacity to SunEdison.

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Dominion sold the ownership interest in 172 megawatts (AC) of solar generating capacity at nine sites in California, Utah and Georgia for a sales price of approximately $120 million, subject to certain adjustments.

The first phase of the sale – a 33 percent interest in 253 megawatts (AC) – closed in December 2015 for approximately $180 million. Dominion expects to pay down debt with the cash proceeds.

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